Höegh LNG : Signed firm agreement with Samsung He

Hamilton, Bermuda, 18 January 2017 - Reference is made to the stock exchange notice dated 7 December 2016. Höegh LNG Holdings Ltd. ("Höegh LNG" or the "Company") is pleased to announce that it has signed one firm Shipbuilding Contract (SBC) and an agreement for three optional FSRUs with Samsung Heavy Industries Co., Ltd. (SHI) in South Korea.

The FSRUs will have a storage capacity of 170,000 m³ and Höegh LNG/Wärtsila regas plant design with a regasification capacity of 750 MMscf/day. The FSRUs will also have full trading capabilities. The firm FSRU will be delivered in May 2019 and the optional FSRUs will be delivered with approx. six months interval from the delivery of the firm vessel.

Höegh LNG's President and Chief Executive Officer Sveinung J. S. Støhle says in a comment: "We are very pleased to have completed this agreement with SHI, a yard we know well as SHI built Höegh LNG's first two FSRUs. These units have shown excellent performance since their delivery. The agreement with SHI also marks a new era for Höegh LNG with FSRU newbuilding programs at two of the world's biggest shipyards, which solidify our position as the leading FSRU provider to the LNG industry."

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About Höegh LNG:

Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions and the strategy is to continue to focus its growth plans in the FSRU market, with the objective of securing long-term contracts with strong counterparties at attractive returns. Höegh LNG is a Bermuda based company with established presence or operations in Norway, Singapore, the UK, USA, South Korea, Indonesia, China, Lithuania, Egypt, Colombia and Turkey. The company employs approximately 110 office staff and 500 seafarers.  

Contacts:

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402 Steffen Føreid, Chief Financial Officer, Telephone + 47 975 57 406

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs